Cranfield School of Management MSc Procurement and Supply Chain Management

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Choose a Master, an MS or an MBA in Purchasing

The Sector of Purchasing

This sector of business is a field that involves managing the practice of buying and selling goods. The importance of this sector is just beginning to become evident, as it is becoming prevalent and understood that the selling and buying practices of a corporation can detrimentally or positively affect is economic growth. It is important that companies continue to keep overhead costs down to promote profit; thus, leading to increased demand for professionals in this field.

Follow a Masters/MS/MBA in Purchasing

A secondary masters degree in Purchasing will allow students to garner an education that is focused on economic development and business management skills. To have within this field students will be trained in business development and strategies related to growth as well. Purchasing involves strategic decision making and problem solving skills. To develop this skillset, those studying purchasing will take classes regarding sociology and economy to help guide them through this factor.

To Work in the sector of Purchasing

Working in the special sector of selling and purchasing involves a utilization of specialized skills. Having experience in economic development, human resources, and a unique knack for gauging needs of customers and consumers are all necessary to ensure professional success in this sector. The hands on experience acquired through the educational courses in this field will prepare all who choose to join the sector with the tools to be successful within this field which has incredible growth potential as well.

This area of specialty in 2019

In 2019, the sector of purchasing management focuses on trend observation and research on demographics of any specific product targeted group. For example, each generation has different spending habits and patterns throughout periods in time. Some time ago, the largest spenders on makeup may have been middle aged women; now it is adolescent or teenage girls. The demographic has shifted and it is up to purchasing managers to observe, package, and adjust their purchasing and selling habits accordingly to ensure management success. The purchasing sector in 2019 involves being aware of the social market and their trends as well.